matt, with all due respect i answered the question with massy. yes i agree the market is trending down, and i see opportunity on the horizon.
ive also disclosed that i sold 2 IPs in the last 18 months, one of those in Jan 2011 and one in early 2010. ive also purchased 3 in that time and one in pipeline as we speak (all distressed sellers). i should point out (and im happy to stand corrected), that ive never posted anything stating:
1. property doubles every seven years (i personally believe that 15-20 should be the goal UNLESS you get lucky) 2. it always goes up. IT DOES NOT (it trends up, but so does everything over time), i prefer to buy on the down trends, hence my current excitment; admittedly i dont see a national average fall of 40% IMHO only.
A auction in my suburb today (bonbeach, vic) was asking 670-720k 5 bedder with pool, nice place good family home on great block, was passed in at 660k. So thats a sign its trending down still.
